Climate change: what would have Edward Theodore done?

So we introduce the rationing framework, we use public funds to establish a publicly owned company to invest in low emission and renewables technology. In turn, this will force the existing energy sector to devote concentrated investment into both low emission and renewable technology.

Just one nation setting in place a framework to fundamentally change the energy sector nationwide will set a beacon for those concerned about global warming right around the world.

It will devote their attention to real, significant and guaranteed changes, rather than establishing a price for carbon and hoping that the invisible hand of the market will squeeze carbon out of the atmosphere.

We need to say to the activists hoping for a better world that just as the Chicago School of Economics is not the answer to achieve full employment, just as the Chicago School is not the answer to establish fair wages, just as the Chicago School is not the answer in providing a fair education system, the Chicago School provides no answer for global warming and climate change.

We need to reject carbon pricing and emissions trading schemes, we need a democratic socialist solution because the market and price mechanism alone will not challenge global warming.